PayPal Holdings, Inc. (NASDAQ:PYPL) Position Lessened by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,552 shares of the credit services provider’s stock after selling 11,414 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in PayPal were worth $6,705,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC raised its stake in PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares in the last quarter. Primecap Management Co. CA raised its stake in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after acquiring an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after acquiring an additional 146,643 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Susquehanna lifted their target price on PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Macquarie lifted their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird lifted their price target on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.38.

PayPal Stock Performance

Shares of PYPL stock opened at $77.44 on Thursday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $80.63. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $79.17 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.11 and a beta of 1.43. The stock’s fifty day simple moving average is $69.87 and its 200-day simple moving average is $65.40.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.